[Arran]

I have to wonder where these things come from, no it doesn't need a grounded cord and plug, you can add one if you like but this unit has a power transformer so there is electrical isolation from the power line anyhow. The other thing to keep in mind that it has plastic knobs, and is housed in a wooden cabinet, so the chances of coming into contact with anything electrical is next to zero for the end user. Even if a three conductor grounded power cord was added the record changer is not, so you would have to add a ground wire to that too. The main things this unit will need is the caps replaced, and the resistors checked, then the changer will need to be serviced, old grease cleaned out, and replaced with fresh, and the phono cartridge may or may not be any good. Radiotvphononut on Y.T has a lot of videos where he services record players, so does David Tipton, and Don's Old Radio Shed. if you want to get some idea, you don't necessarily have to do a complete tear down though.
Regards
Arran